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HomeMy WebLinkAbout2014-01-15 Min - Board REGULAR MEETING January 15, 2014 In accordance with District Code Section 2.08.010, the TDPUD minutes are action only minutes. All Board meetings are recorded on a digital format which is preserved in Perpetuity and made available for listening to any interested party upon their request. The regular meeting of the Board of Directors of the Truckee Donner Public Utility District was called to order at 6:00 PM in the TDPUD Board room by Vice President Ellis. ROLL CALL: Directors Joe Aguera, Jeff Bender, Bob Ellis, and Ron Hemig were present. Director Tony Laliotis was absent. PLEDGE OF ALLEGIANCE Director Hemig led the Board and public in the Pledge of Allegiance. EMPLOYEES PRESENT Kathy Neus, Steven Poncelet, Kim Harris, Brian Wright, Lauren Schaake-Hudson, Bob Mescher, Michael Holley and Barbara Cahill CONSULTANTS PRESENT Steve Gross, Shawn Koorn, Nicki Tallman, and Rick Brandis OTHERS PRESENT Kevin Brazell, John Simbley and Craig Bach ( CHANGES TO THE AGENDA General Manager Holley pulled Item Number 20, Closed Session Pursuant to Government Code Section 54957 (e), Public Employee Performance Evaluation - General Manager's Performance Plan Review. PUBLIC INPUT There was no public input. DIRECTOR UPDATE There were no Director updates. PUBLIC HEARING CONDUCT A PUBLIC HEARING ON PROPOSED WATER RATES This item involves a public hearing prior to adopting an ordinance to increase water rates as proposed by a completed water rate study. Bob Mescher gave a PowerPoint presentation. Vice President Ellis opened the public hearing at 6:08 PM. Craig Bach of Tahoe Donner asked if the water rates address water use and conservation. Are the rates encouraging people to conserve water? Do the rates make sure there are no breaks for golf courses snow making? What more can be done to encourage people to use less water. He has a concern that we are in a severe drought. Consider the future and urge people to conserve. 1 Minutes: January 15, 2014 Vice President Ellis closed the public hearing at 6:14 PM. CONSENT CALENDAR RECEIVE AND ACCEPT ANNUAL REPORTS a) Safety activities for the past year b) 2013 Easements Recorded in favor of the TDPUD c) Use of the Board room by outside organizations in 2013 d) Encroachment Permits CONSIDERATION OF RESOLUTION ACCEPTING COMPLETION AND AUTHORIZING THE FILING OF A NOTICE OF COMPLETION FOR HEADQUARTERS AUTOMATIC GATES This item involves the acceptance of the District Automatic Gates as complete and authorizes the filing of the Notice of Completion. CONSIDERATION OF RESOLUTION ACCEPTING COMPLETION AND AUTHORIZING THE FILING OF A NOTICE OF COMPLETION FOR HEADQUARTERS BUILDING CON- TROLS REPLACEMENT PROJECT This item involves the acceptance of the District Building Controls Replacement Project as complete and authorizes the filing of the No- tice of Completion. Director Hemig moved, and Director Bender seconded, that the Board approve the consent calendar. ROLL CALL: Director Laliotis, absent; all other Directors aye, by voice vote. SO MOVED ACTION ITEMS CONSIDERATION OF AN ORDINANCE TO ADOPT WATER RATES This item involves the consideration of an ordinance to adopt water rates. Director Bender moved, and Director Aguera seconded, that the Board adopt the proposed water rate Ordinance 2014-01. ROLL CALL: Director Laliotis, absent; all other Directors aye, by voice vote. SO MOVED CONSIDERATION TO REJECT ALL BIDS FOR THE 2014 PUMP AND MOTOR PREDIC- TIVE MAINTENANCE PROJECT The item involves the rejection of all bids received for the 2014 Pump and Motor Predictive Maintenance Project. CONSIDERATION TO REJECT ALL BIDS FOR THE 2014 CLA-VAL PRESSURE CON- TROL VALVE MAINTENANCE PROJECT This item involves the rejection of all bids for the 2014 Cla-Val Pressure Control Valve Maintenance Project Director Hemig moved, and Director Bender seconded, that the Board • Reject all bids for the 2014 Pump and Motor Predictive Maintenance Project as being in the best interest of the District • Reject all bids for the 2014 Cla-Val Pressure Control Valve Maintenance Project as being in the best interest of the District ROLL CALL: Director Laliotis, absent; all other Directors aye, by voice vote. SO MOVED 2 Minutes: January 15, 2014 CONSIDERATION OF AN INCREASE TO THE DISTRICT'S INVESTMENTS WITH PLAC- ER COUNTY TREASURER'S INVESTMENT POOL This item involves comparing the in- vestments in California's Local Agency Investment Fund and Placer County Treasur- er's Investment Portfolio; and consideration of an increase of investment in Placer County Treasurer's Investment Portfolio. There was no action taken with this item. CONSIDERATION OF DOCUMENTS ASSOCIATED WITH THE REFINANCING OF THE SPECIAL TAX BONDS FOR COMMUNITY FACILITIES DISTRICT NO. 03-1 (OLD GREENWOOD CFD) This item involves refinancing of the Old Greenwood CFD. Director Hemig moved, and Director Ellis seconded, that the Board adopt the Resolution 2014-03 authorizing the sale and issuance of the 2014 Special Tax Refunding Bond ROLL CALL: Director Laliotis, absent; all other Directors aye, by voice vote. SO MOVED ROUTINE BUSINESS APPROVAL OF THE FUND BALANCES AS OF NOVEMBER 30, 2013: Director Bender moved, and Director Aguera seconded, that the Board approve the treasurer's report for the month ended November 30, 2013. ROLL CALL: Director Laliotis, absent; all other Directors aye, by voice vote. SO MOVED APPROVAL OF DISBURSEMENTS FOR DECEMBER 2013 Director Aguera moved, and Director Bender seconded, that the Board approve the December 2013 disbursements report. ROLL CALL: Director Laliotis, absent; all other Directors aye, by voice vote. SO MOVED APPROVAL OF MINUTES FOR DECEMBER 4 AND 18, 2013 Director Hemig moved, and Director Bender seconded, that the Board approve the minutes of December 4 and 18, 2013. ROLL CALL: Director Laliotis, absent; all other Directors aye, by voice vote. SO MOVED CLOSED SESSION CLOSED SESSION PURSUANT TO GOVERNMENT CODE SECTION 54957.6, CONFERENCE WITH LABOR NEGOTIATORS, DISTRICT DESIGNATED REPRESENTATIVES; UNREPRESENTED EMPLOYEE: GENERAL MANAGER CLOSED SESSION PURSUANT TO GOVERNMENT CODE 54956.9(D)(1), CONFERENCE WITH LEGAL COUNSEL ON EXISTING LITIGATION: SIERRA PACIFIC POWER CO/DBA NV ENERGY SCHEDULE 4 ENERGY IMBALANCE, CASE NO. ER13-1607-000 CLOSED SESSION PURSUANT TO GOVERNMENT CODE SECTION 54957 (E), PUBLIC EMPLOYEE PERFORMANCE EVALUATION - GENERAL MANAGER'S PERFORMANCE PLAN REVIEW— removed from agenda RETURN TO OPEN SESSION 3 Minutes: January 15, 2014 Report from Closed Session There was no reportable action. ADJOURNMENT There being no further business before the Board, the meeting was adjourned at 8:00 PM. TRUCK E DONNER PUBLIC UTILITY DISTRICT ,1 a,, Bob Ellis, Vice President Prepared by fur Barbara Cahill, Deputy District Clerk f 4 Minutes: January 15, 2014 Ordinance NO. 201 - 01 SETTING THE WATER MONTHLY RETAIL RATES WHEREAS The District's retained HDR to conduct a water rate study; and WHEREAS HDR completed the water rate study and recommended several options to fairly allocate the cost of service to the District's customers through increased rates; and WHEREAS a public workshop was held in November 6, 2013 to receive comments from the public concerning a proposal to adopt such rate increases; and WHEREAS notices of the proposed retail water rates and public hearing were mailed to all rate payers and property owners in November 2013; and WHEREAS a public hearing was held on January 15, 2014; and WHEREAS the District received protests on the retail water rates from less than the majority of parcels within the District; and NOW, THEREFORE, BE IT ENACTED by the Board of Directors of the Truckee Donner Public Utility District as follows: Section 1. Effective with bills issued on or after March 15, 2014, the following monthly water rates shall be effective. Metered Residential Water Rates - The domestic water rates for single family properties, individual condominium units and townhouse units equipped with a meter shall consist of three components, a base charge, a commodity charge and a pump zone charge. The base charge shall be: Meter Size Monthly Base Charge Up to 3/4" $55.59 1" $66.31 The commodity charge shall be: Monthly Usage Commodity Charge 0 to 8,000 gallons $0.62/ 1,000 gallons Over 8,000 gallons $0.77/ 1,000 gallons The pump zone charge shall be: Pump Zone Pump Zone Charge Pump Zone 1 $0.00 11,000 gallons Pump Zone 2 $0.30 11,000 gallons Pump Zone 3 $0.60/ 1,000 gallons Pump Zone 4 $0.90/ 1,000 gallons Pump Zone 5 $1.20/ 1,000 gallons Pump Zone 6 $1.50/ 1,000 gallons Pump Zone 7 $1.80/ 1,000 gallons Ordinance 2014-01 1 Un-metered Residential Water Rates - The domestic water rates for single family properties, individual condominium units and townhouse units not equipped with a meter shall be: Pump Zone Monthly Charge Pump Zone 1 $62.09 Pump Zone 2 $65.09 Pump Zone 3 $68.09 Pump Zone 4 $71.09 Pump Zone 5 $74.09 Pump Zone 6 $77.09 Pump Zone 7 $80.09 Commercial Water Rates — The commercial water rates for all other multiple dwelling units, trailer parks, public use, dedicated irrigation and commercial establishments shall consist of three components, a base charge, a commodity charge and a pump zone charge. The base charge shall be: Meter Monthly Base Size Charge Up to 3/4" $55.59 1" $66.31 1.5" $93.21 2" $128.13 3" $214.50 4" $306.92 6" $460.37 8" $575.47 The commodity charge shall be $1.52/1,000 gallons The pump zone charge shall be Pump Zone Pump Zone Charge Pump Zone 1 $0.00/1,000 gallons Pump Zone 2 $0.30/ 1,000 gallons Pump Zone 3 $0.60/1,000 gallons Pump Zone 4 $0.90/ 1,000 gallons Pump Zone 5 $1.20/ 1,000 gallons Pump Zone 6 $1.50/ 1,000 gallons Pump Zone 7 $1.80/ 1,000 gallons f, Ordinance 2014-01 2 f Section 2. Effective with bills issued on or after January 15, 2015 following monthly water rates shall be effective. Metered Residential Water Rates - The domestic water rates for single family properties, individual condominium units and townhouse units equipped with a meter shall consist of three components, a base charge, a commodity charge and a pump zone charge. The base charge shall be: Meter Size Monthly Base Charge Up to 3/4" $57.28 1" $68.32 The commodity charge shall be: Monthly Usage Commodity Charge 0 to 8,000 gallons $0.64/ 1,000 gallons Over 8,000 gallons $0.80/ 1,000 gallons The pump zone charge shall be: r` Pump Zone Pump Zone Charge Pump Zone 1 $0.00/ 1,000 gallons Pump Zone 2 $0.35/ 1,000 gallons Pump Zone 3 $0.70/ 1,000 gallons Pump Zone 4 $1.05/ 1,000 gallons Pump Zone 5 $1.40/ 1,000 gallons Pump Zone 6 $1.75/ 1,000 gallons Pump Zone 7 $2.10/ 1,000 gallons Un-metered Residential Water Rates - The domestic water rates for single family properties, individual condominium units and townhouse units not equipped with a meter shall be: Pump Zone Monthly Charge Pump Zone 1 $64.00 Pump Zone 2 $67.50 Pump Zone 3 $71.00 Pump Zone 4 $74.50 Pump Zone 5 $78.00 Pump Zone 6 $81.30 Pump Zone 7 $85.00 Ordinance 2014-01 3 Commercial Water Rates — The commercial water rates for all other multiple dwelling units, trailer parks, public use, dedicated irrigation and commercial establishments shall consist of three components, a base charge, a commodity charge and a pump zone charge. The base charge shall be: Meter Size Monthly Base Charge Up to 3/4" $57.28 1" $68.32 1.5" $96.04 2" $132.03 3" $221.02 4" $316.25 6" $474.37 8" $592.96 The commodity charge shall be $1.57/1,000 gallons The pump zone charge shall be Pump Zone Pump Zone Charge Pump Zone 1 $0.00/ 1,000 gallons Pump Zone 2 $0.35/ 1,000 gallons Pump Zone 3 $0.70/ 1,000 gallons Pump Zone 4 $1.05/ 1,000 gallons Pump Zone 5 $1.40/ 1,000 gallons Pump Zone 6 $1.75/ 1,000 gallons Pump Zone 7 $2.10/ 1,000 gallons Section 3. Placement of a given customer account into a pump zone for billing purposes shall be based upon that customer's relationship to the 6170 Pressure Zone, The 6170 Pressure Zone is deemed to be Pump Zone 1 and all customers located within that pressure zone and other areas where water can be supplied from 6170 Pressure Zone solely without pumping shall also be considered part of Pump Zone 1. For all other areas, a given customer shall be re-classified to the next highest pump zone for each time the water must be pumped from the 6170 Pressure Zone to supply that customer. Section 4. It is the District's goal that all customers are equipped with a water meter and billed volumetrically based upon their usage. It is the District's intent to have water meters installed on all customers' water services. However, circumstances may exist whereby a customer refuses to undertake the necessary actions or improvements to allow that customer to be billed on a volumetric basis. In those cases, the customer shall be subject to a "non-conforming bulk rate" and shall be charged a monthly bill for service based on the base charge, commodity charge and pump zone charge corresponding to that customer's location and class (residential or commercial). For determining the commodity charge and pump zone charge the customer shall be charged a volume equal to the 90th percentile of usage for all customers with the same customer class and meter size. This determination of the 90th percentile shall occur annually in January and shall be based upon the metered usage data for the prior calendar year. Ordinance 2014-01 4 Section 5. If no protest is made pursuant to Public Utilities Code Section 16078, then the terms of this ordinance shall be effective thirty days after adoption by the board of directors of the District. Section 6. The Clerk of the District shall immediately cause a copy of this ordinance to be published in a newspaper of general circulation and posted in three places within the District. Section 7. The provisions of other Ordinances shall remain in effect to the extent that they do not conflict with this ordinance. PASSED AND ADOPTED by the Board of Directors of the Truckee Donner Public Utility District at a meeting duly called and held within the District on the 15th day of January, 2014 by the following roll call vote: AYES: Directors Aguera, Bender, Ellis and Hemig NOES: None ABSTAIN: None ABSENT: Director Laliotis TRUCKEE DONNER PUBLIC UTILITY DISTRICT By_/-S- ell/,/ fI Bob Ellis, Acting President of the Board ATTEST: In-/q Michael D. Holley, Clerk of the Board Ordinance 2014-01 5 UCKEE . Public Utility District i Resolution No. 2014 - 01 AUTHORIZING THE ACCEPTANCE OF THE DISTRICT AUTOMATIC GATES AND DIRECTING FILING OF THE NOTICE OF COMPLETION WHEREAS, the Board of Directors of the Truckee Donner Public Utility District made the determination to undertake the District Automatic Gates Project; and WHEREAS, Tholl Fence, Inc. was selected by the District to perform the work; and WHEREAS, Tholl Fence, Inc. has completed all of the Work included in the Project; and WHEREAS, The District's Special Projects Administrator, Kathleen Neus, now certifies the completion of the project; and WHEREAS,the District's General Manager, Michael D. Holley, has recommended that the work be accepted by the District; r NOW THEREFORE BE IT RESOLVED by the Board of Directors of the District as follows: 1. That the District hereby accepts the District Automatic Gates Project as complete. 2. That the Clerk of the District be directed to file with the County of Nevada the Notice of Completion,a copy of which is attached hereto. 3. That 35 days following the filing of the Notice of Completion, the monies retained from the contractor payments be released to the contractor if no claims have been made to the District by material suppliers or laborers. PASSED AND ADOPTED by the Board of Directors at a meeting duly called and held within the District on the 15th day of January 2014 by the following roll call vote: AYES: Directors Aguera, Bender, Ellis and Hemig NOES: None ABSTAIN: None ABSENT: Director Laliotis TRUCKEE DONNER PUBLIC UTILITY DISTRICT By ;' Bob Ellis, Vice President of the Board ATTEST: � f: Michael D. Holley, Clerk of the Board RECORDING REQUESTED BY: Truckee Donner Public Utility District WHEN RECORDED, RETURN TO: TRUCKEE DONNER PUBLIC UTILITY DISTRICT 11570 Donner Pass Road Truckee, CA 961601 THE UNDERSIGNED DECLARES DOCUMENTARY TRANSFER TAX- NONE NOTICE OF COMPLETION NOTICE IS HEREBY GIVEN: 1. That the name and address of the public entity for whom the improvement project was done, as owner thereof, is the Truckee Donner Public Utility District, 11570 Donner Pass Road Truckee, CA 96161. 2. Nature of interest or estate of owner: beneficial interest of a public utility of electric and water facilities. 3. That on January 15, 2014, the hereinafter described improvements were accepted as complete pursuant to Resolution 2014-01 of the Truckee Donner Public Utility District, the awarding authority. 4. That the subject improvements of the Notice are generally described and identified as follows: Automatic Gates. 5. That the name and address of the contractor for such project was: Tholl Fence, Inc. 800 Glendale Avenue PO Box 855 Sparks, Nevada 89432 1 certify under penalty of perjury under the laws of the State of California that the foregoing is true and correct. Dated: TRUCKEE DONNER PUBLIC UTILITY DISTRICT By Michael D. Holley, General Manager MAIL TAX STATEMENTS TO: SAME AS ABOVE Legal References: CC-3093,CCP-2003 (oath), 2015.5 (unsworn statement) „ 4 f Resolution No. 2014 - 02 AUTHORIZING THE ACCEPTANCE OF THE DISTRICT BUILDING CONTROLS REPLACEMENT AND DIRECTING FILING OF THE NOTICE OF COMPLETION WHEREAS, the Board of Directors of the Truckee Donner Public Utility District made the determination to undertake the District Building Controls Replacement Project; and WHEREAS, Quality Concepts Solutions (QCS), Inc. was selected by the District to perform the work; and WHEREAS, Quality Concepts Solutions has completed all of the Work included in the Project; and WHEREAS, The District's Special Projects Administrator, Kathleen Neus, now certifies the completion of the project; and WHEREAS, the District's General Manager, Michael D. Holley, has recommended that the work be accepted by the District; NOW THEREFORE BE IT RESOLVED by the Board of Directors of the District as follows: 1. That the District hereby accepts the District Building Controls Replacement Project as complete. 2. That the Clerk of the District be directed to file with the County of Nevada the Notice of Completion, a copy of which is attached hereto. 3. That 35 days following the filing of the Notice of Completion, the monies retained from the contractor payments be released to the contractor if no claims have been made to the District by material suppliers or laborers. PASSED AND ADOPTED by the Board of Directors at a meeting duly called and held within the District on the 15th day of January 2014 by the following roll call vote: AYES: Directors Aguera, Bender, Ellis and Hemig NOES: None ABSTAIN: None ABSENT: Director Laliotis TRUCKEE DONNER PUBLIC UTILITY DISTRICT By Bob Ellis, Vice President of the Board ATTEST: Michael D. Holley, Clerk of the Board RECORDING REQUESTED BY: Truckee Donner Public Utility District WHEN RECORDED, RETURN TO: TRUCKEE DONNER PUBLIC UTILITY DISTRICT 11570 Donner Pass Road Truckee, CA 96161 THE UNDERSIGNED DECLARES DOCUMENTARY TRANSFER TAX- NONE NOTICE OF COMPLETION NOTICE IS HEREBY GIVEN: 1. That the name and address of the public entity for whom the improvement project was done, as owner thereof, is the Truckee Donner Public Utility District, 11570 Donner Pass Road Truckee, CA 96161. 2. Nature of interest or estate of owner: beneficial interest of a public utility of electric and water facilities. 3. That on January 15,2014,the hereinafter described improvements were accepted as complete pursuant to Resolution 2014-02 of the Truckee Donner Public Utility District, the awarding authority. 4. That the subject improvements of the Notice are generally described and identified as follows: Building Controls Replacement. r< 5. That the name and address of the contractor for such project was: Quality Concepts Solutions 600 So. 18t" Street Sparks, NV 89431 1 certify under penalty of perjury under the laws of the State of California that the foregoing is true and correct. Dated: TRUCKEE DONNER PUBLIC UTILITY DISTRICT By Michael D. Holley, General Manager MAIL TAX STATEMENTS TO: SAME AS ABOVE Legal References: CC-3093,CCP-2003 (oath), 2015.5 (unsworn statement) ,?7� TRUCKEE DONNER s Public Resolution No. 2014 - 03 RESOLUTION OF THE BOARD OF DIRECTORS OF THE TRUCKEE DONNER PUBLIC UTILITY DISTRICT, ACTING AS THE LEGISLATIVE BODY OF TRUCKEE DONNER PUBLIC UTILITY DISTRICT COMMUNITY FACILITIES DISTRICT NO. 03- 1 (OLD GREENWOOD), AUTHORIZING THE SALE AND ISSUANCE OF ITS 2014 SPECIAL TAX REFUNDING BOND, APPROVING DOCUMENTS RELATING THERETO AND AUTHORIZING AND DIRECTING CERTAIN RELATED ACTIONS WHEREAS, the Board of Directors (hereinafter sometimes referred to as the"legislative body of the Community Facilities District") of the Truckee Donner Public Utility District(the"Public Utility District") has heretofore undertaken proceedings to form Truckee Donner Public Utility District Community Facilities District No. 03-1 (Old Greenwood) (the "Community Facilities District") pursuant to the terms and provisions of the Mello-Roos Community Facilities Act of 1982, as amended, being Chapter 2.5, Part 1, Division 2, Title 5, of the Government Code of the State of California (the "Act"); and WHEREAS, the Community Facilities District has previously issued its$12,445,000 Special Tax Bonds (the "Prior Bonds") to finance certain public improvements; and WHEREAS, the legislative body of the Community Facilities District now desires to refund the Prior Bonds through the issuance of a bond to be designated as the "Truckee Donner Public Utility District Community Facilities District No. 03-1 (Old Greenwood) 2014 Special Tax Refunding Bond" (the "2014 Bond"); and WHEREAS, in order to effect the issuance of the 2014 Bond, the legislative body of the Community Facilities District desires to enter into a Trust Indenture, dated as of January 1, 2014 (the"Trust Indenture"),with The Bank of New York Mellon Trust Company, N.A., as Trustee; and WHEREAS, the legislative body of the Community Facilities District has determined in accordance with Section 53360.4 of the Act that a negotiated sale of the 2014 Bond to WAB Investment Inc. (the"Purchaser"), as arranged by Brandis Tallman, LLC (the"Placement Agent") in accordance with the provisions of the term sheet setting forth the basis on which the 2014 Bond will be issued supplied by the Purchaser (the "Term Sheet") will result in a lower overall cost to the Community Facilities District than a public sale; 1 Resolution 2014-03 NOW, THEREFORE, THE BOARD OF DIRECTORS OF THE TRUCKEE DONNER PUBLIC UTILITY DISTRICT,ACTING AS THE LEGISLATIVE BODY OF TRUCKEE DONNER PUBLIC UTILITY DISTRICT COMMUNITY FACILITIES DISTRICT NO. 03-1 (OLD GREENWOOD), ( DOES HEREBY RESOLVE, DETERMINE, AND ORDER AS FOLLOWS: Section 1. Each of the above recitals is true and correct. Section 2. The legislative body of the Community Facilities District is authorized pursuant to the Act to issue the 2014 Bond for the benefit of the Community Facilities District for purposes set forth herein and to take the necessary steps to refund and defease the Prior Bonds. Section 3. The legislative body of the Community Facilities District hereby determines that it is prudent in the management of the Community Facilities District's fiscal affairs to issue the 2014 Bond; and the issuance of the 2014 Bond in the aggregate principal amount not to exceed $12,000,000 is hereby authorized. The 2014 Bond shall be governed by the terms and conditions of the Trust Indenture, Section 4. In accordance with the requirements of Section 53345.8 of the Act, and based on the full cash value of the property in the Community Facilities District that will be subject to the special tax to pay debt service on the 2014 Bond as shown in the records of the County Assessor of the County of Nevada and the other information previously presented to this Board, the legislative body of the Community Facilities District hereby determines that the value of such real property is at least three times the sum of (a) the maximum principal amount of the 2014 Bond and (b) the principal amount of all other bonds outstanding that are secured by a special tax levied pursuant to the Act or a special assessment levied on property within the Community Facilities District. Section 5. The form of the Trust Indenture presented at this meeting is hereby approved; and the Trust Indenture shall be executed, for and in the name of the Community Facilities District, by any one of the President of the Board of Directors of the Public Utility District (the "President"), the General Manager of the Public Utility District, the Assistant General Manager of the Public Utility District, or the Treasurer and Administrative Services Manager of the Public Utility District (collectively the "Authorized Officers"), each acting alone, and countersigned by either the Clerk or the Deputy Clerk of the Public Utility District (collectively, the "Clerk") in substantially said form, with such additions thereto and changes therein as the Authorized Officer executing the same deems necessary to cure any ambiguity or defect therein, to insert interest rates, principal amounts per maturity, redemption dates and prices and any other related terms and provisions, or to conform any provisions thereof to the Term Sheet. Approval of such additions and changes shall be conclusively evidenced by the execution and delivery of the Trust Indenture to the Trustee by any one of the Authorized Officers acting alone. Capitalized terms used in this Resolution which are not defined herein have the meanings ascribed to them in the Trust Indenture. In satisfaction of the requirements contained in Section 53363.2 of the Act, the legislative body of the Community Facilities District hereby determines that: (1) it is anticipated that the sale of the 2014 Bond will occur on or about January 22, 2014, (2) the 2014 Bond shall be dated its date of issuance, have the maturity date (which does not exceed the latest maturity date of the Prior Bonds), and be payable at the place and be in the form specified in the Trust Indenture, (3) the 2014 Bond will bear interest at a rate of no less than at least 0.5% per annum, and (4) the designated cost of issuing the 2014 Bond being used to refund the Prior Bonds, as defined by Section 53363.8 of the Act, shall include all of the costs specified in Section 53363.8(a), (b)(2) and (c) of the Act 2 Resolution 2014-03 In satisfaction of the requirements contained in Section 53364.2 of the Act, the legislative body of the Community Facilities District hereby determines that any savings achieved through the issuance of the 2014 Bond shall be used to reduce the special taxes of the Community Facilities District and such that reductions shall be made in accordance with the Act. Section 6. The covenants set forth in the Trust Indenture to be executed in accordance with Section 5 above are hereby approved, shall be deemed to be covenants of the legislative body of the Community Facilities District and shall be complied with by the Community Facilities District and its officers. Section 7. The 2014 Bond shall be executed on behalf of the Community Facilities District by the manual or facsimile signature of the President and attested by the manual or facsimile signature of the Clerk. Section 8. The form of the Agreement for Placement Agent Services presented at this meeting by Brandis Tallman, LLC is hereby approved; and the Agreement for Placement Agent Services shall be executed, for and in the name of the Community Facilities District, by any one of the Authorized Officers. The Bank of New York Mellon Trust Company, N.A. is hereby appointed to act as Trustee for the 2014 Bond; and Stradling Yocca Carlson & Rauth, a Professional Corporation is hereby appointed to serve as the Community Facilities District's bond counsel in connection with the authorization, sale and issuance of the 2014 Bond. Section 9. The form of the Term Sheet presented at this meeting and the sale of the 2014 Bond pursuant thereto are hereby approved, provided that(a)the interest rate on the 2014 Bond is such that the principal and total interest cost to maturity on the 2014 Bond is less than the principal and total interest cost to maturity on the Prior Bonds, (b) the maturity date of the 2014 Bond is not later than the last maturity date of the Prior Bonds and (c) the price at which the Purchaser purchases the 2014 Bond is not less than 100% of the principal amount thereof, each as determined by the Treasurer and Administrative Services Manager of the Public Utility District or his designee. Notwithstanding the provisions of Section 4 hereof, the Treasurer and Administrative Services Manager of the Community Facilities District is authorized to determine the day on which the 2014 Bond are to be sold in order to attempt to produce the lowest borrowing cost for the Community Facilities District and to reject any terms presented by the Purchaser if determined not to be in the best interest of the Community Facilities District. Section 10. In the event the President is unavailable to execute and deliver any of the documents that the President is authorized and directed to execute and deliver pursuant to the terms of this Resolution, then any other member of the Board of Directors of the Public Utility District is hereby authorized and directed to do so. Section 11. Each of the General Manager of the Public Utility District, the Assistant General Manager of the Public Utility District and the Treasurer and Administrative Services Manager of the Public Utility District, acting alone, is authorized to provide for all services necessary to effect the issuance of the 2014 Bond. Such services shall include, but not be limited to, obtaining legal services, trustee services, special tax consultant services, escrow verification services and any other services deemed appropriate. Each of the foregoing officers, acting alone, is authorized to pay for the cost of such services, together with other costs of issuance, from 2014 Bond proceeds. 3 Resolution 2014-03 } Section 12. Each Authorized Officer and each of his or her designees is hereby authorized and directed to take any actions and to execute and deliver any and all documents as are necessary to accomplish the sale and issuance of the 2014 Bond and the refunding and redemption of the Prior Bonds in accordance with the provisions of this Resolution and the fulfillment of the purposes of the 2014 Bond as described in the Indenture, including, but not limited to, providing certificates described in the Trust Indenture. Section 15. This Resolution shall take effect from and after its adoption. ADOPTED and APPROVED by the Board of Directors of the Truckee Donner Public Utility District, acting as the legislative body of the Truckee Donner Public Utility District Community Facilities District No. 03-1 (Old Greenwood), on this 15th day of January, 2014 by the following vote: AYES: Directors Aguera, Bender, Ellis and Hemig NOES: None ABSTAIN: None ABSENT: Director Laliotis TRUCKEE DONNER PUBLIC UTILITY DISTRICT � r f By Bob Ellis, Acting President of the Board ATTEST: Michael D. Holley, Clerk of the Board 4 Resolution 2014-03